Final answer:
The nurse's observation of granulation tissue that bleeds easily indicates the wound is in the Proliferation phase of the healing process.
Step-by-step explanation:
The phase of wound healing characterized by the nurse's assessment, where the formation of granulation tissue is noted and the tissue easily bleeds during wound care, is the Proliferation phase. During this phase, angiogenesis occurs, and new blood vessels form in the granulation tissue, which is why it may bleed easily. This phase follows initial hemostasis and inflammation, and precedes the final maturation phase where scar tissue strengthens and matures.