PLACE potatoes in 2-L microwaveable dish. Add water. Microwave on HIGH 10 min. or until potatoes are tender. Let stand 5 min. Meanwhile, cook bacon until crisp; drain.
DRAIN potatoes; place on work surface. Flatten to 1/2-inch thickness.
HEAT dressing in large skillet on medium heat. Add potatoes; cook 4 min. or until bottoms are golden brown. Meanwhile, crumble bacon. Turn potatoes over; top with cheese and bacon. Cover; cook 2 min. or until cheese is melted.
