In the bowl of the stand mixer, stir together the yeast and water. Let the mixture sit for 5 minutes until yeast is somewhat dissolved. Mix in the olive oil, salt, and flour. Using the dough hook, knead the dough for 5 minutes, or until elastic. (Alternatively, you can mix the ingredients in a large bowl then knead the dough on a lightly floured surface until it is elastic, 7-10 minutes.) Transfer dough to a lightly oiled bowl and cover with a clean kitchen towel or plastic wrap. Allow the dough to rise for 1 to 1 1/2 hours, or until it has doubled in size.
In a small bowl, combine melted butter, parsley, Italian seasoning, and minced garlic. Set aside.
Preheat oven to 350 degrees F.
Gently push the air out of the dough. Tear off a golf ball-size piece of dough, roll in the butter mixture, and place in the bottom of a Bundt pan. Repeat this process until you have one layer of dough balls. Sprinkle on 1/3 of the Parmesan cheese. Continue layering the dough balls and cheese until you have 3 layers. (Note: We ended up with only 2 layers but the bread still turned out fine.) Cover the pan with a clean towel or plastic wrap and allow the dough to double in size, 20-30 minutes.
Bake for 25 to 30 minutes, or until bread is golden brown. Let the pan cool on a wire rack for 5 minutes then invert the pan onto a large serving plate and let the bread fall out of the pan. Serve hot.