The Blues' 10.12 (72) to 10.7 (67) victory at the MCG on Sunday night - their fourth win from as many games under Fraser - lifts them within touching distance of a wildcard finals spot.
But it was tinged with controversy after Harry McKay was allowed to take more than 40 seconds off the clock inside the final two minutes, after indicating he was taking a set shot from well outside the 50-metre line.
McKay, who was stationed wide out near the boundary line, never appeared likely to have a genuine attempt at goal and eventually lobbed his kick to the top of the goal square.
Then, as the Bombers rebounded, the Fox Footy broadcast clock froze at 0:44 and skipped to 0:24 after Zach Reid had marked at full-forward - seemingly with no time lost.
Reid kicked truly, dragging Essendon back within a kick, but they couldn't muster a winning goal in the remaining nine seconds after the centre ball-up.
Bombers interim coach Dean Solomon refused to blame Blues spearhead McKay's time-wasting tactics for his side's defeat.
"I think it's just smart, isn't it?" Solomon said.
"It's just using the rules and maximising the opportunity at that time and milking the clock and putting themselves in a winning position.
"There's nothing I can do to control that. He did it really well."
Solomon said the Bombers' coaches weren't aware of the broadcast clock error, confirming the clock in their box continued to tick as usual.
"We were really aware of what time was left, so it didn't really impact us or affect us at all," Solomon said.
Essendon had led by 23 points in the second quarter on the back of Sam Durham's dominant first half.
But George Hewett put the clamps on Durham in the third quarter and the Blues turned the midfield battle around.
Hewett (27 disposals), Sam Walsh (24), Jagga Smith (24) and Patrick Cripps (23) were influential, while Harry McKay (three) and Talor Byrne (two) kicked multiple goals.
Brodie Kemp added two crucial majors in the second half and Carlton kicked seven of the first nine after the main break to skip 18 points clear.
Nate Caddy and Zach Reid kicked late goals to give the Bombers an outside chance of a late winner, but the Blues (5-8) survived.
"We were able to hang in long enough and then take some important moments in the second half," Carlton interim coach Fraser said.
"We challenged ourselves around work rate at halftime and our midfield getting to work a bit more, and it looked a bit better in the second half."
Reid (nine intercepts) shone in defence for the Bombers (1-12), while Will Setterfield (29 disposals) and Elijah Tsatas (25) were busy.
Ben McKay and Hussien El Achkar kicked two goals each. Zach Merrett gathered 33 touches at half-back but did not have his usual influence.
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