Heat the oven to 350 degrees. Spray a 1-1/2-quart casserole with cooking spray.
In a 1-1/2-quart saucepan, cook the farro in the chicken broth, covered, for 15 to 20 minutes or until the farro is tender but chewy and the liquid is absorbed.
Meanwhile, in a 12-inch nonstick skillet, heat the butter and oil over medium heat. Add the shallots, garlic, thyme and salt. Cook for 2 minutes, stirring frequently. Stir in the mushrooms. Cook for another 5 to 6 minutes or until the mushrooms are browned, stirring frequently.
In a small bowl, whisk the cottage cheese, egg and 1/4 cup of the Parmesan cheese together. Stir the cottage cheese mixture and cooked farro into the mushrooms. Spoon the mixture into the casserole. Cover and bake for 35 to 40 minutes or until thoroughly heated.
Uncover and sprinkle with the remaining Parmesan cheese and the chopped parsley. Bake uncovered for an additional 10 minutes.