Place cooked Farro into a bowl to use later. Place butter into a small saucepan over medium heat to melt. Whisk in flour, salt and pepper to combine. Whisk in chicken broth, increase heat to high whisking constantly. When thickened, reduce heat to low and stir in cheese until melted. Simmer on low.
Place oil into a large skillet over medium heat. Add pancetta and cook, stirring until browned. Add cooked Farro, cheese sauce and peas stirring to combine. Taste and season with additional salt and pepper to your liking. Serve warm.