A folder per project is the most common.
If you are doing this as a business then each client gets a folder, and each project for that client is in a sub-folder.
If you have a lot of repetitive work then you could put all V-carved plaques in a single folder (Plaques) and just be very consistent about naming the CRV file and the related files with a common prefix, i.e.
- Randall Newcomb
10 fingers in, 10 fingers out - another good day in the shop