If you and your organization can get more value out of having one or more parts of your RAID log hosted somewhere outside your RAID log, then do it. Sometimes there are benefits if the tool is widely used. And, oftentimes, you won’t have much choice. For example, if you are one of the rare PMs out there lucky enough to have an enterprise risk management tool, then tracking your risks in that tool rather than your RAID can help ensure your risks get the attention and governance needed.
However, you will find that for day-to-day management, it’s more efficient to have the core parts of a RAID log in one place. Task switching between your RAID and outside apps consumes additional time and attention, which most busy project leader’s cannot spare. You’ll need to weigh the trade-offs of breaking up your RAID log into different apps.