We point out the use of a wrong definition for conversion efficiency in the literature and analyze the effects of the waveguide length and pump power on conversion efficiency according to the correct definition. The existence of the locally optimal waveguide length and pump power is demonstrated theoretically and experimentally. Further analysis shows that the extremum of conversion efficiency can be achieved by global optimization of the waveguide length and pump power simultaneously, which is limited by just the linear propagation loss and the effective carrier lifetime.