COOK potatoes, water and evaporated milk in Dutch oven 10 min. or until potatoes are tender.
ADD 2% milk, broccoli and onions; cook on medium heat 5 min. or until broccoli is tender, stirring frequently.
STIR in VELVEETA and ham; cook on low heat 5 min. or until VELVEETA is completely melted and soup is heated through, stirring constantly.