diff --git a/core/dbt/cli/option_types.py b/core/dbt/cli/option_types.py
index 6c94116eb67..2d0efedbb9e 100644
--- a/core/dbt/cli/option_types.py
+++ b/core/dbt/cli/option_types.py
@@ -1,6 +1,6 @@
 from click import Choice, ParamType
 
-from dbt.config.utils import exclusive_primary_alt_value_setting, parse_cli_yaml_string
+from dbt.config.utils import normalize_warn_error_options, parse_cli_yaml_string
 from dbt.events import ALL_EVENT_NAMES
 from dbt.exceptions import OptionNotYamlDictError, ValidationError
 from dbt_common.exceptions import DbtValidationError
@@ -51,12 +51,7 @@ class WarnErrorOptionsType(YAML):
     def convert(self, value, param, ctx):
         # this function is being used by param in click
         include_exclude = super().convert(value, param, ctx)
-        exclusive_primary_alt_value_setting(
-            include_exclude, "include", "error", "warn_error_options"
-        )
-        exclusive_primary_alt_value_setting(
-            include_exclude, "exclude", "warn", "warn_error_options"
-        )
+        normalize_warn_error_options(include_exclude)
 
         return WarnErrorOptions(
             include=include_exclude.get("include", []),
diff --git a/core/dbt/config/project.py b/core/dbt/config/project.py
index 7f396477fd6..e1dfac4e10c 100644
--- a/core/dbt/config/project.py
+++ b/core/dbt/config/project.py
@@ -10,7 +10,7 @@
 from dbt.adapters.contracts.connection import QueryComment
 from dbt.clients.yaml_helper import load_yaml_text
 from dbt.config.selectors import SelectorDict
-from dbt.config.utils import exclusive_primary_alt_value_setting
+from dbt.config.utils import normalize_warn_error_options
 from dbt.constants import (
     DBT_PROJECT_FILE_NAME,
     DEPENDENCIES_FILE_NAME,
@@ -828,13 +828,8 @@ def read_project_flags(project_dir: str, profiles_dir: str) -> ProjectFlags:
         if project_flags is not None:
             # handle collapsing `include` and `error` as well as collapsing `exclude` and `warn`
             # for warn_error_options
-            warn_error_options = project_flags.get("warn_error_options")
-            exclusive_primary_alt_value_setting(
-                warn_error_options, "include", "error", "warn_error_options"
-            )
-            exclusive_primary_alt_value_setting(
-                warn_error_options, "exclude", "warn", "warn_error_options"
-            )
+            warn_error_options = project_flags.get("warn_error_options", {})
+            normalize_warn_error_options(warn_error_options)
 
             ProjectFlags.validate(project_flags)
             return ProjectFlags.from_dict(project_flags)
diff --git a/core/dbt/config/utils.py b/core/dbt/config/utils.py
index c37854c477b..df554f1c461 100644
--- a/core/dbt/config/utils.py
+++ b/core/dbt/config/utils.py
@@ -1,4 +1,4 @@
-from typing import Any, Dict, Optional
+from typing import Any, Dict
 
 from dbt.clients import yaml_helper
 from dbt.events.types import InvalidOptionYAML
@@ -24,33 +24,36 @@ def parse_cli_yaml_string(var_string: str, cli_option_name: str) -> Dict[str, An
         raise
 
 
-def exclusive_primary_alt_value_setting(
-    dictionary: Optional[Dict[str, Any]],
-    primary: str,
-    alt: str,
-    parent_config: Optional[str] = None,
+def normalize_warn_error_options(
+    dictionary: Dict[str, Any],
 ) -> None:
-    """Munges in place under the primary the options for the primary and alt values
+    """Fixes fields for warn_error_options from yaml format to fields
+    expected by the WarnErrorOptions class.
+    'error' => 'include', 'warn' => 'exclude'
 
-    Sometimes we allow setting something via TWO keys, but not at the same time. If both the primary
-    key and alt key have values, an error gets raised. If the alt key has values, then we update
-    the dictionary to ensure the primary key contains the values. If neither are set, nothing happens.
+    Also validates that two different forms of accepted keys are not
+    both provided.
     """
 
-    if dictionary is None:
-        return
-
-    primary_options = dictionary.get(primary)
-    alt_options = dictionary.get(alt)
+    if "include" in dictionary and "error" in dictionary:
+        raise DbtExclusivePropertyUseError(
+            "Only `error` or `include` can be specified in `warn_error_options`, not both"
+        )
 
-    if primary_options and alt_options:
-        where = f" in `{parent_config}`" if parent_config is not None else ""
+    if "warn" in dictionary and "exclude" in dictionary:
         raise DbtExclusivePropertyUseError(
-            f"Only `{alt}` or `{primary}` can be specified{where}, not both"
+            "Only `warn` or `exclude` can be specified in `warn_error_options`, not both"
         )
 
-    if alt in dictionary:
-        alt_value = dictionary.pop(alt)
-        if alt_value is None:
-            alt_value = []
-        dictionary[primary] = alt_value
+    convert = {
+        "error": "include",
+        "warn": "exclude",
+    }
+    for key in list(convert.keys()):
+        if key in dictionary:
+            value = dictionary.pop(key)
+            if value is None:
+                value = []
+            dictionary[convert[key]] = value
+    if "silence" in dictionary and dictionary["silence"] is None:
+        dictionary["silence"] = []
diff --git a/tests/unit/config/test_utils.py b/tests/unit/config/test_utils.py
index 41e7dfddd43..0f1dfe36d0c 100644
--- a/tests/unit/config/test_utils.py
+++ b/tests/unit/config/test_utils.py
@@ -1,40 +1,35 @@
 import pytest
 
-from dbt.config.utils import exclusive_primary_alt_value_setting
+from dbt.config.utils import normalize_warn_error_options
 from dbt.exceptions import DbtExclusivePropertyUseError
 
 
-class TestExclusivePrimaryAltValueSetting:
-    @pytest.fixture(scope="class")
-    def primary_key(self) -> str:
-        return "key_a"
-
-    @pytest.fixture(scope="class")
-    def alt_key(self) -> str:
-        return "key_b"
-
-    @pytest.fixture(scope="class")
-    def value(self) -> str:
-        return "I LIKE CATS"
-
-    def test_primary_set(self, primary_key: str, alt_key: str, value: str):
-        test_dict = {primary_key: value}
-        exclusive_primary_alt_value_setting(test_dict, primary_key, alt_key)
-        assert test_dict.get(primary_key) == value
-        assert test_dict.get(alt_key) is None
-
-    def test_alt_set(self, primary_key: str, alt_key: str, value: str):
-        test_dict = {alt_key: value}
-        exclusive_primary_alt_value_setting(test_dict, primary_key, alt_key)
-        assert test_dict.get(primary_key) == value
-
-    def test_primary_and_alt_set(self, primary_key: str, alt_key: str, value: str):
-        test_dict = {primary_key: value, alt_key: value}
+class TestNormalizeWarnErrorOptions:
+    def test_primary_set(self):
+        test_dict = {
+            "error": ["SomeWarning"],
+        }
+        normalize_warn_error_options(test_dict)
+        assert len(test_dict) == 1
+        assert test_dict["include"] == ["SomeWarning"]
+
+    def test_convert(self):
+        test_dict = {"warn": None, "silence": None, "include": ["SomeWarning"]}
+        normalize_warn_error_options(test_dict)
+        assert test_dict["exclude"] == []
+        assert test_dict["include"] == ["SomeWarning"]
+        assert test_dict["silence"] == []
+
+    def test_both_keys_set(self):
+        test_dict = {
+            "warn": ["SomeWarning"],
+            "exclude": ["SomeWarning"],
+        }
         with pytest.raises(DbtExclusivePropertyUseError):
-            exclusive_primary_alt_value_setting(test_dict, primary_key, alt_key)
+            normalize_warn_error_options(test_dict)
 
-    def test_neither_primary_nor_alt_set(self, primary_key: str, alt_key: str):
+    def test_empty_dict(self):
         test_dict = {}
-        exclusive_primary_alt_value_setting(test_dict, primary_key, alt_key)
-        assert test_dict.get(primary_key) is None
-        assert test_dict.get(alt_key) is None
+        normalize_warn_error_options(test_dict)
+        assert test_dict.get("include") is None
+        assert test_dict.get("exclude") is None