Place bacon in a large, cold skillet. Cook over medium-high heat, stirring often, until crispy, 8 to 10 minutes. Using a slotted spoon, transfer bacon to a plate, reserving fat in skillet.

Reduce heat to medium. Add shallot and cranberries to skillet; season with salt and pepper. Cook, stirring occasionally, until shallot is slightly softened, about 3 minutes. Add green beans and 2 tablespoons water. Cover and cook until beans are crisp-tender, about 5 minutes.

Transfer bean mixture to a platter. Top with cheese.