In a large skillet, heat the olive oil over medium heat. Add the chopped onion and minced garlic, sautéing until the onion is translucent, about 3-4 minutes.
Add the ground beef to the skillet, breaking it apart with a spatula. Cook until browned, about 5-7 minutes. Drain any excess fat if necessary.
Stir in the diced potatoes, beef broth, Worcestershire sauce, thyme, paprika, salt, and pepper. Bring the mixture to a simmer.
Cover the skillet and reduce the heat to low. Cook for 20-25 minutes, or until the potatoes are tender, stirring occasionally.
If using, sprinkle the shredded cheddar cheese on top during the last 5 minutes of cooking, allowing it to melt.
Once cooked, remove from heat and let it sit for a few minutes. Garnish with fresh parsley before serving.