In a medium saute pan over medium heat, cook the pancetta until tender-crisp. Remove to a paper towel-lined plate and set aside. Reserve the pan with the drippings.
Separate 4 of the eggs and set the yolks aside. Discard the 4 whites. Crack the fifth egg and add it to the yolks.
Add the egg mixture into the pasta and toss well with tongs for about 1 minute. Add the reserved pasta water to the bowl in 1/4 cup increments, combining and adding until desired sauce consistency is reached. Add the parsley and gently combine and place into a serving dish.
Garnish with the reserved pancetta.