In medium saucepan, combine broccoli and water. Bring to a boil. Reduce heat; cover and simmer 8 to 10 minutes or until broccoli is tender. Do not drain.
Place about 1 cup of the broccoli and water mixture in blender container. Cover; blend until smooth.
To broccoli mixture in saucepan, add pureed broccoli, Alfredo sauce, milk and pepper; mix well. Cook and stir 3 to 4 minutes or until thoroughly heated. Garnish with shredded carrot.