Automotive radar is a key component in an advanced driverassistance system (ADAS). The increasing number of radars implemented in vehicles makes interference between them a noteworthy issue. One method of interference mitigation is to limit the time-bandwidth product (TBP) of radar waveforms. However, the problems of how much TBP is necessary and how to optimally utilize the limited TBP have not been addressed. We take collision warning system (CWS) as an example and propose a method of designing the radar waveform parameters oriented by the performance of CWS. We propose a metric to quantify the CWS performance and study how the radar waveform parameters (bandwidth and duration) influence this metric. Then, the waveform parameters are designed with a limit on the TBP to optimize the system performance. Numerical results show that the proposed design outperforms the state-ofthe-art parameter settings in terms of system performance and resource or energy efficiency.