Boil orzo according to directions on the box (typically 9 minutes for a 1 lb box). Drain in a strainer and set aside until ready to add to other ingredients.
Roll prosciutto into a log and cut into small, bite size pieces. Melt 2 Tbsp over medium high heat in a frying pan and add prosciutto and cook until prosciutto is crispy. Be careful not to burn it as it goes from limp to crispy very quickly.
Add 2 more Tbsp of the butter to the pan and add cut asparagus pieces to mixture. Stir fry for about 2 minutes until asparagus is still firm, but heated through.
Add orzo to he pan with the remaining butter, stir and heat under medium low heat until butter is melted, then add the parmesan cheese and stir until cheese is melted and incorporated into the mixture.