Toss the chicken pieces with salt, pepper and garlic powder.
Heat a deep skillet over medium and coat with olive oil. Add the chicken pieces and allow them to sear for 1-2 minutes per side. Place in a bowl and set aside. They will finish cooking in a later step.
Add the mushroom slices to the same skillet and cook down for about 4-5 minutes until tender. Add the shallots and cook for 1-2 more minutes. Mix in the garlic and thyme.
Pour the rice and allow it to soak up some of the mushroom juices and toast for a minute.
Pour the chicken broth in and mix.
Add the chicken back into the skillet and cover.
Turn the heat to low and cook for about 15-17 minutes until the rice is cooked and the broth is mostly absorbed. Careful not to let the liquid evaporate fully, so it doesn’t burn and the rice and chicken don't overcook.
Stir in the heavy cream and Parmesan cheese and mix until combined and even. The cheese should melt right away. Taste and adjust the seasoning as necessary.
Plate and serve with some extra Parmesan cheese and fresh chopped parsley.