Not a parent, but a dog owner. I have a border collie.
My dog is very friendly and chilled, and is good with children. But I'm realistic. She's a dog at the end of the day. When I go up the park,many of the local children like to play with her (she loves chasing bubbles, which results in loads of kids running round with her all chasing bubbles.)
Even small children (eg 9 months up) get excited when they see her. But a 9 month old doesn't understand ''don't pull her tail or poke her eyes'' can't read the situation, or move away. If a baby wants to say hello, I'm happy to allow this....but she's on a short leash my end, and I expect the parent(s) to do similar with the baby.
With older children who can understand I will still supervise closely together with the parents.
She has never shown any sign of aggression to a child, but I could never forgive myself if this changed and she did hurt a child.