Heat two tablespoons olive oil in a large skillet set over medium-high heat. Add the pancetta, porcini, garlic, onions and carrots. Cook 6-7 minutes, or until lightly browned, stirring frequently so the vegetables don't burn or stick. Deglaze the pan with a 1/2 cup red wine.

Heat two tablespoons olive oil in a dutch oven set over medium-high heat. Add the ground meat and cook for approximately 10 minutes, stirring frequently so the meat browns evenly. Salt and pepper liberally. Then, add the tomato paste and saute for 2 minutes.

Next, add the vegetables and pancetta to the pot with the meat. Then, add the remaining 1 cup red wine to deglaze the pot. Scrape all the bits and pieces that might accumulate and reduce by half, about 5 minutes. Then, add the chicken stock and crushed tomatoes and simmer very gently for 1.5 hours or until the liquid is absorbed.

Adjust seasonings to taste (I added a little more salt and pepper at this point). Finish the sauce with the chopped basil and thyme.

You have two options for serving: (1) You can add the cooked pasta and 1/2 cup pasta water directly the pot of bolognese sauce and simmer for 2 minutes to incorporate the sauce into the pasta (my preferred method) or (2) You can add the pasta to a plate and spoon the sauce on top of the pasta (Alasdair's preferred method and the method you see in my photos).

Garnish with the ground Pecorino Romano (optional), torn basil and a drizzle of extra-virgin olive oil on top.