In a large mixing bowl, stir together the yeast and water.
Let sit 5 minutes until yeast is foamy.
Mix in the olive oil, salt, and flour.
If you have a stand mixer, attach the dough hook and knead the dough for 5-6 minutes, or until elastic. If you are doing this by hand, knead the dough on a lightly floured surface until dough is elastic, 7-10 minutes.
Transfer dough to a lightly oiled bowl and cover with a clean kitchen towel.
Allow to rise for 1 1/2 to 2 hours, or until dough is doubled in size.
In a small bowl, combine melted butter, parsley flakes, and minced garlic. Set aside.
Punch down the dough. Tear off small pieces of dough (roughly the size of the bowl of a medium spoon), coat 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.
Cover the pan with a clean towel and allow to sit until dough has doubled in size, 20-30 minutes.
Preheat oven to 350ºF
Bake for 25 to 30 minutes, or until bread is golden brown. Serve hot with a side of marinara or tomato sauce.