Risk happens. This statement, every practicing project manager and senior management fellows will agree, is true. Risks may be predictable or they simply occur without any prediction. Sure, The incidence of risk may be unplanned, but one can reduce the negative impact with incidence of such risks by being ready for it & responding appropriately. Risk Management is all about recognizing that risk may occur, assessings its impact, plan to respond it and delegate actions to respond it.
Traditionally, Project Managers who acknowledges importance of risk management, have been keeping risk registers & updating it during stakeholder's meeting. They have been reviewing risks for its impact assessment & preparing plan to manage those. Using simple spreadsheet or excel to track risks can become a activity in itself to manage - as you would need latest version to work with, share it with different people, track risks by polling team members. A lot of efforts will be spent in just running around this spreadsheets/excels.
Though excel, spreadsheet are simple & easy tool at your hand, You need a comprehensive solution to collaborate with your team. A central place where everyone can register, view & update risks. In simple words, you need a Risk Management Solution to make your life easier & be more productive.