MICADO will enable the ELT to perform diffraction limited near-infrared observations at first light. The instrument's capabilities focus on imaging (including astrometric and high contrast) as well as single object spectroscopy. This contribution looks at how requirements from the observing modes have driven the instrument design and functionality. Using examples from specific science cases, and making use of the data simulation tool, an outline is presented of what we can expect the instrument to achieve. Comment: Proc SPIE 10702. SPIE's copyright notice: "Copyright 2018 Society of PhotoOptical Instrumentation Engineers. One print or electronic copy may be made for personal use only. Systematic reproduction and distribution, duplication of any material in this paper for a fee or for commercial purposes, or modification of the content of the paper are prohibited."