In a large skillet, heat the olive oil over medium heat. Add the diced potatoes and cook for about 10 minutes, stirring occasionally, until they start to soften and turn golden brown.
Add the diced onion and bell pepper to the skillet. Cook for an additional 5-7 minutes, stirring frequently, until the vegetables are tender.
In a bowl, whisk together the eggs, salt, pepper, garlic powder, and paprika. Pour the egg mixture over the cooked vegetables in the skillet.
Cook the eggs, gently stirring, until they are just set, about 3-4 minutes. If using, sprinkle the shredded cheddar cheese on top and cover the skillet for 1-2 minutes until the cheese melts.
Remove from heat and garnish with fresh parsley before serving.