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According to the website of French Diplomaty Canadians do not have to ask for a visa to enter the Schengen zone thank to the european regulation 539/2001 french version / english version. The stay must last less than three months. This regulation list countries for which a visa is required and the countries for which a visa is not required. The website of French Diplomaty reproduces the latter. Nevertheless, the Consulat général de France à Montréal adds that you should be able to provide the same papers as if you were asking for a visa to the custom at CDG (listed here. In particular, bring a photo, copies of your 3 last paychecks or business registration, bank statement over the last 3 months and your return ticket. You may not even need it...
Fortunately, the Picasso museum is not very far from the RER B line, "les Halles" station. The train takes approximately 40 minutes. There is a train at least every 15 minutes. See the vianavigo website: going to the Picasso museum should take 1h15 including 35 minutes of walk.
Yet, there are some risks that must not be neglected:
Hence, if your stay in Paris lasts only 7h30, you may enjoy a 1h30 hour visit of the museum... But if you want to visit it, you will have to rush ! You can book your ticket to avoid the queue
The decision is up to you: if you are not an experienced traveller or if you are reluctant to worry about being on time, don't do it! You must be aware that this great idea can become a really bad trip. If you want to enjoy the city of Paris and its museums, consider spending a few days there!