Cook orzo in a large pot of boiling water according to package directions until al dente. Reserve 1/4 cup of the pasta cooking water, then drain the pasta, pressing out excess liquid. Spread out on a baking sheet to cool.
Grill peppers and seed and chop into a half-inch dice
Add olive oil to a skillet
Add thyme, garlic and season with salt and pepper, and cook for one minute
Add the reserved pasta water and stir to combine
Add cooled orzo, to a bowl with lemon juice, prepared dressing, chopped peppers, olives, chopped basil, and goat cheese crumbles. Season to taste with salt and pepper.
Mix well, then transfer to a large serving bowl or platter. Garnish with more basil.