Crisp the bacon in a large Dutch oven, then take it out and drain most of the fat, leaving about one tablespoon behind. Chop the cooked bacon into small pieces.
Add the chicken to the same pot and cook over medium-high heat for around 3 minutes until the outside begins to brown but the inside remains undercooked. Mix in the ranch seasoning thoroughly coating the chicken pieces.
Pour in the penne and chicken broth, giving it a good stir before bringing the mixture to a boil. Lower the heat, cover the pot, and let the pasta cook for 15 to 20 minutes until it reaches your desired tenderness, stirring occasionally to avoid sticking.
Once the pasta is ready with some liquid still in the pot, stir in the cream cheese until it dissolves and creates a creamy sauce.
Return the bacon to the pot and add one and a half cups of shredded cheddar cheese, stirring to melt the cheese completely and combine all ingredients evenly.
Scatter the remaining half cup of cheddar over the top and cover the pot again. Let it cook off heat for about 30 seconds until the cheese melts fully, or alternatively, place the pot under the broiler for 5 minutes to achieve a bubbly, golden cheese topping.
Finish by sprinkling chopped parsley on top and serve immediately.
