give an aws lambda the necessary permissions to create and delete alarms

How can i give an aws lambda in a cloudformation template the necessary permissions to allow it to manage alarms (create / delete) them, i'm struggling to understand the policies and how they work

Role:
    Type: 'AWS::IAM::Role'
    Properties:
      AssumeRolePolicyDocument:
        {
          'Version': '2012-10-17',
          'Statement':
            [
              {
                'Effect': 'Allow',
                'Principal': { 'Service': ['lambda.amazonaws.com'] },
                'Action': ['sts:AssumeRole'],
              },
            ],
        }
      ManagedPolicyArns:
        - 'arn:aws:iam::aws:policy/service-role/AWSLambdaBasicExecutionRole'
        - 'arn:aws:iam::aws:policy/AWSXrayWriteOnlyAccess'
        - 'arn:aws:iam::aws:policy/AWSLambdaReadOnlyAccess'
        - 'arn:aws:iam::aws:policy/service-role/AWSLambdaVPCAccessExecutionRole'
Lambda:
    Type: 'AWS::Lambda::Function'
    Properties:
      PackageType: Zip
      Handler: index.handler
      Runtime: nodejs12.x
      MemorySize: 512
      Timeout: 30
      Role:
        Fn::GetAtt:
          - Role
          - Arn
      Code:
        ZipFile: |
          const AWS = require('aws-sdk')
          AWS.config.update({region: 'us-east-2'});

          const cw = new AWS.CloudWatch({apiVersion: '2010-08-01'});
          //

You could assign the CloudWatchFullAccess policy (arn:aws:iam::aws:policy/CloudWatchFullAccess), but that is probably providing excessive access.

If you are okay with writing your own policy, you could grant:

• cloudwatch:PutMetricAlarm
• cloduwatch:DeleteAlarms

For details, see: Actions, resources, and condition keys for Amazon CloudWatch - Service Authorization Reference