The aim of this paper is to develop computational models for the ultimate compressive strength analysis of stiffened plate panels with nonuniform thickness. Modeling welding-induced initial deformations and residual stresses was presented with the measured data. Three methods, i.e., ANSYS finite element method, ALPS/SPINE incremental Galerkin method, and ALPS/ULSAP analytical method, were employed together with existing test database obtained from a full-scale collapse testing of steel-stiffened plate structures. Sensitivity study was conducted with varying the difference in plate thickness to define a representative (equivalent) thickness for plate panels with nonuniform thickness. Guidelines are provided for structural modeling to compute the ultimate compressive strength of plate panels with variable thickness.