Bring a large pot of salted water to a boil. Trim the tough ends of the Brussels sprouts. Cut them in half lengthwise; if they are large, quarter them lengthwise. Blanch the Brussels sprouts for about 8 minutes in the boiling water, and drain.

Heat the olive oil over medium high heat in a skillet large enough to hold all the Brussels sprouts (or use two skillets). Add the pancetta and cook for about 3 minutes. Add the Brussels sprouts and cook until they become nicely browned and slightly caramelized on the cut side, 10 to 15 minutes. Stir and season with salt and pepper to taste.

This dish can be made ahead of time and will reheat nicely; but ideally, it is best cooked at the last minute.