Cook fettuccine al dente, drain and set aside, reserving about a cup of the pasta water.
While fettuccine is cooking, chop bacon into 1/2" pieces and cook until desired doneness. Drain and set aside, reserving 1 tsp or so bacon grease in pan.
In pasta pot, add butter, cream, white pepper and chives. Add reserved pasta water. Reduce over high heat by half until sauce is desired consistency (should coat the back of the spoon). Remove from heat. Add pasta, egg and Parmesan. Toss well. (Note: egg will cook from heat of sauce and pasta.) Add bacon and asparagus. Toss again.