Boil a large pot of salted water and cook the fettuccine pasta until al dente, about 8-10 minutes. Drain and set aside.
In a large skillet, heat olive oil over medium heat. Add ground beef and cook for 5-7 minutes, breaking it apart as it browns. Drain excess fat if necessary.
Stir in garlic powder, onion powder, Italian seasoning, salt, and pepper. Cook for an additional 2 minutes. Reduce heat to low and add heavy cream, stirring well. Let it simmer for 3-5 minutes.
Gradually mix in mozzarella and Parmesan cheese until melted and creamy. Add cooked fettuccine and toss to coat evenly.
Serve immediately, garnished with chopped parsley if desired.