Am sure experts will be along shortly, but I'd be tempted to use something like a Google spreadsheet with simple headings.  It can be shared so all can update it with relevant info - phone calls, texts, emails, HF conversations - and everyone can access it.  Automated time-stamping of entries simple, with built in history of changes and information audit trail.  Cheap, simple, accessible on many different devices, distributed.

Michael,

I have used the iPhone, especially now that you can simply say: "Hey, Siri, take a quick note." She replies: "What do you want it to say?" I continue with: "I've made contact with the windward mark set boat and moved them 15 degrees north." When Siri completes the note, it's in the Notes application and is automatically time stamped. 

I have also used the Voice Memos app to capture finish times. Each time you create a new Voice Memo it times stamps it from the iPhone clock (GPS time) and notes your location, somewhat generally. I use my voice to read the sail number and/or describe the boat. (Hopefully, someone will get over putting dark blue numbers on black sails.) I end up with a group of Voice Memos that are in the finishing order all time-stamped. You could do the same thing with events during an emergency situation. Finally, this is really helpful when all hell is breaking loose on the Signal Boat and folks get confused about the order in which things got done. So, each action that the RC takes has its own Voice Memo, time stamped, as the events flow by. I find this somewhat more difficult to use than a tape recorder, but much easier to dictate to because I don't have to read the time into the device. 

For all sorts of reasons I wish I could find a verbal logging application, but the only ones I've found (so far) have been for truck drivers logging house.

Michael, I have a format for a paper log which is attached.

In practice I have a 10 inch tablet with attached keyboard, which I have used to create incident logs on the RCV anchored at a finishing line.  An example for an old Cabbage Tree Island race is attached.

I've also got some examples of Incident management plans:  email me if you're interested.

Key thing is when to initiate log-keeping.

60% of the time whether an incident is Minor or not is immediately apparent to the RO in the early stages after the initial information is received.  The critical thing is whether the RO reports the incident immediately to management ashore.  Whether the DFO/ashore management wants to then start setting up the Major incident responses is up to them:  it makes no difference to the RO.

Most 'log keeping' starts as a scribbled note in the margin of a race management record sheet.  Fortunately I'm well  trained from long ago in recording times of messages, not everyone is, and sometimes there's a bit of reconstruction, and mobile phone SMS and voice call logs are invaluable.  The ability of a MS Word lor Excel table to sort or cut and paste rows into chronological order, where you are building a chronology from bits and pieces is useful.  It can be a good idea to switch on the RO's voice recorder beside the radio.

I think Beau is probably right that voice to text is the right solution, at least for a majority of the entries.  How that is physically captured and shared is probably the bigger question.  We have implemented a Retirements feature on RRS to capture that portion of the RC radio traffic which takes it off the radio, captures the details for scoring and reduces the event to writing.  The obvious issues for the boat and the RC however is the difficulty in reaching the internet, especially in offshore events. It's not difficult to implement voice to text and record the event in a log, but I wonder how useful it will be.  Let me know and I can put together a something we could test.