In a sauté pan over medium heat, add chopped bacon and cook until crispy. Remove from pan and set aside. Drain all but 2 tablespoons of bacon grease. If needed, add olive oil to equal 2 tablespoons of total oil/grease in your pan.
Add cubed chicken and cook for 3-4 minutes, or until cooked through. Remove from pan and set aside.
Add water, penne pasta, and ranch seasoning to pan. Bring to a simmer, cover, and reduce heat to low. Cook to al dente according to pasta's package directions. Most of liquid should be absorbed.
Add cooked chicken, bacon, heavy cream, and shredded cheese to pan. Stir until cheese has melted. Remove from heat and allow to set for 5 minutes, or until sauce has thickened.
Optionally, garnish with fresh chopped parsley before serving.
Want to add vegetables? Add a cup of peas, cooked broccoli, or a handful of spinach in with your shredded cheese.