Bring a large pot of lightly salted water to a boil. Add penne and cook, stirring occasionally, until tender yet firm to the bite, about 11 minutes. Drain.
Preheat oven to 425 degrees F (220 degrees C). Grease a baking dish.
Heat oil in a skillet over medium-high heat while penne are cooking and saute ham until lightly browned and crisp, about 5 minutes. Pour in heavy cream and milk and cook until almost simmering. Add cheese wedge and melt in the sauce. Season with bouillon and pepper. Add penne and mix well. Transfer to the prepared baking dish and cover with Parmesan cheese.
Bake in the preheated oven until cheese is melted and slightly browned, about 20 minutes.