The 19-year-old was Vieira’s first signing as Palace manager at the start of the summer, but he missed all of pre-season and the start of the campaign with a back injury.
The former Reading man made his debut off the bench in the 3-0 win against Spurs though, before coming on as a substitute against Liverpool at Anfield a week later.
Asked by football.london whether Olise was seen as a direct backup to Jordan Ayew or the right-wing or whether he would feature elsewhere this season, Vieira said: “I think what is really interesting with Michael is that he can play in different positions.
“When he came on at Liverpool, he came on just behind the No.9 as a No.10 and he was really good. He can play on the right-hand side coming in left-footed.”
Vieira had previously said Olise would need a lot of time to develop before he was ready to take on the Premier League, having only played Championship football prior to signing for the Eagles.
Now that opinion seems to have changed, with the Frenchman now saying the youngster is ready to take his game to the next level.
“Michael needed time to adapt to the new club,” added Vieira.
“He needed time to adapt to the tempo and the physicality of the Premier League and he is ready. He will get more and more involved through the season and he’s ready to challenge the front lines.”
This is a good sign of things to come for Olise, but could also signal the beginning of the end for Jordan Ayew, who had another difficult outing against Brighton on Monday.
The Ghanaian has just one goal in his last 50 appearances for Palace, and at 30-years-old is in serious danger of losing his starting berth with Vieira now claiming Olise is ready to go.