Place the dried porcini mushrooms in a small bowl. Cover with very hot or boiling water. Let rehydrate for at least 15 minutes.
Meanwhile, heat the olive oil in a medium sautépan.When hot add the shallots and white or cremini mushrooms. Sautéon medium heat until softened—about 5-8 minutes.
Lift the dried porcini mushrooms from the water. Pat dry. Mince slices and add to the cooking mushrooms. Cook 2-3 minutes more. Spoon in a couple of tablespoons of the soaking liquid, careful not to include the sediment at the bottom of bowl. Cook another minute or two at a lively heat. Season with salt & pepper, sprinkle with parsley. Serve.