In this paper, a method to overcome inefficiency of the finite element method in the calculation of compressive strength of one-sided stiffened plates, is proposed. In this method the collapse modes of stiffened plates are assumed as follows. a) Overall buckling $ ightarrow$ Overall collapse b) Local buckling $ ightarrow$ Overall collapse c) Local buckling $ ightarrow$ Local collapse In each collapse mode, shape of deflection is assumed, and then elastic large deformation analysis based on the Rayleigh-Ritz method is carried out. One-sided stiffening effect is considered by taking into account of the moment due to eccentricity. Plastic analysis by assuming hinge lines is also carried out. The ultimate strength of a stiffened plate is obtained as the point of intersection of the elastic analysis curve and the plastic one. From this study, it is concluded that the angles between the plastic hinge lines in plastic collapse mode are determined as the ones which give the minimum collapse load, and these angles are different from the ones assumed in the previous studies. Minimum stiffness ratios can also be calculated. Calculated results according to this method show good agreements with the results by the finite element method.