Cook and stir bacon in a large skillet on medium heat until crisp. Remove bacon from skillet with slotted spoon; drain on paper towels. Add onions to drippings in skillet; cook and stir 5 minutes or until crisp-tender.
Add chicken broth, water and macaroni to skillet; stir. Bring to boil; cover. Simmer on medium-low heat 10 minutes or until macaroni is tender.
Add vegetables and cream cheese; cook 2 to 3 minutes or until cream cheese is completely melted and mixture is well blended and heated through, stirring frequently. (You may want to cook just a little longer if you want your veggies more tender.) Sprinkle with bacon and Parmesan.
NOTE: You may substitute 1 - 16 oz. package thawed and drained frozen mixed vegetables for the cut-up fresh veggies.