Cook the Pasta
In a large pot, cook penne pasta according to the package instructions. Reserve 1 cup of pasta water before draining, then set the pasta aside.
Cook the Chicken
In the same pot, heat olive oil over medium-high heat. Add the diced chicken, season with salt, pepper, garlic powder, and onion powder, and cook until browned and fully cooked, about 5-7 minutes.
Make the Sauce
Lower the heat to medium and sprinkle the ranch seasoning mix over the chicken. Add chicken broth and heavy cream, stirring to combine.
Add cream cheese cubes and stir until melted and smooth.
Combine and Finish
Add the cooked penne pasta back into the pot, tossing to coat it evenly with the sauce. If the sauce is too thick, use the reserved pasta water to adjust the consistency.
Stir in shredded cheddar cheese until melted and creamy.
Garnish and Serve
Sprinkle with fresh parsley for a pop of color and extra flavor. Serve hot and enjoy!