In a large pot, bring salted water to a boil. Add the penne pasta and cook according to package instructions until al dente. Drain and set aside.
In a large skillet, heat olive oil over medium heat. Add the cubed chicken and season with salt, pepper, and garlic powder. Cook until the chicken is browned and cooked through, about 5-7 minutes.
Sprinkle the ranch seasoning mix over the chicken, stirring to coat evenly.
Add the softened cream cheese and chicken broth to the skillet. Stir until the cream cheese is melted and the mixture is creamy, about 3-4 minutes.
Lower the heat and mix in the shredded cheddar cheese until melted. Add the cooked penne pasta, tossing everything together until well combined.
If using, stir in the bacon bits for added crunch. Garnish with sliced green onions before serving.
Serve hot and enjoy your delicious Crack Chicken Penne!