Technical elements The image has sharpness and clarity. The very shallow Depth Of Field chosen really draws attention to the baby - perhaps for this challenge keeping the ladies head in focus as well would have been appropriate. The shadows, from what appears to be on camera flash, are quite harsh (a reflector from below would have softened them) but I don't find them particularly offensive and are really only obvious under the ladies and babies cheeks.
The babies clothing is perhaps over-lit. It is very bright and draws your eyes to the bottom, and then out, of the image. If it was darker then the viewer would be attracted to the babies face. You could try "burning" the clothing a little in photoshop to see what you think.
The conversion to black and white is well done - plenty of contrast without being over dramatic.
Border / Title The title is an interesting one. It makes me suspect that the lady in the photo isn't the mother of the baby, and is perhaps pondering when she will become a mother. That fact wasn't obvious from the image because we can see so little of the lady - perhaps it's a younger girl.
The white border isn't bad, but possibly could have been a little thinner. I would have also considered a single pixel of black between the picture and white border.
Composition I like the relatively tight cropping you chose - it works well. Probably due to the flash used, the background has effectively been removed as a result of being so dark - this helps frame and draw attention to the subjects nicely. I would have considered including a little more of the hands at the bottom of the frame, but its difficult to say without seeing what else that would have introduced.
Personal / Emotional qualities I particularly like the fact that the lady is looking at the baby, rather than at the camera. It's a much more natural pose and conveys a feeling of love/caring. I must admit that when first looking at the image I assumed it was "mother & child" but the title has made me rethink that decision - that's not necessarily a bad thing though.
Summary It's a very nice portrait - focusing primarily on the baby, with a significant contribution of the lady as well. The black and white simplifies the portrait, as does the effective removal of background. Keep up the good work.